Plays for 24/8

Ok, STI didn’t want to break under 2500 last friday.
To end the week, DJIA traded high and closed up +155points
However, after the close, they reported the failure of 3 more US banks, among them was a really major lender called Gauranty Bank.
I don’t know how this is gonna affect our opening. If there wasn’t any news of the bank failures, I’m certain we’ll gap up pretty high.
But with the news of the bank failures, I’m not sure how the market will react.
I’m inclined to think possibly gap up at first then trade down heavily..

Anyway, I found a few interesting counters over the weekend.

**Sinomem tech
NR7, super strong move up.
I believe the retracement should be of significant magnitude as well.
Volume hasn’t fallen even though price is going nowhere.
Lots of players, if either are proven wrong, I’m certain they’ll switch sides and contribute to the magnitude of the next move.
Will be watching the 0.51 level to go short and the 0.57 level to go long.
long side, target 0.63, fib extension.
short side, target 0.45, 50% fib retracement level

***DBS
Something is obviously happening here. price is going sideways in a very tight range.
support $12.50, resistance $13

**Tat Hong
NR4, price is consolidating on the MAs.
volume is falling.
long side trade might be worth a swing for a few days.

*Hyflux
bollinger bands squeezed then came the break, could be the start of a new leg up, but that huge long-tailed doji conflicts with this.
Price broke a new high then immediately a long tailed doji followed.
Down side bias to test the breakout level around 2.75, then about 2.46 support of the recent retracements
However, if $3 goes, then we should see much higher.

**CSE
just broke out to a new high.
retracements covered the gap, volume very high on the breakout day.
should be a valid break to the upside.
Difficult to swing short term for a good risk/reward since the stoploss would have to be very far down.
I’d be playing it intraday, if at the end of the day, there’s a good profit buffer, then i’ll keep part of the position to capture more of the move.

edit: made clearer analysis on some counters. 
the ’ * ‘ next to the counter indicates the extent of my favour in counter that it’ll be a good trade.

Plays for 21st Aug

Watching a few counters
Sembmar
NR4 + 3-5 drop bar.
appears to have a double top at 3.40, but receiving support from moving averages and figure at $3.00.

Yanlord
NR4, high volatility
Price has been getting messy lately, moving under the moving averages, therefore slight downward bias.

Indoagri
NR7, high volatility
One way traffic on this chart, UP.
Personally I’m thinking it’s gonna find 1.60 before it goes higher again.

Straitsasia
NR7
Price appears to be struggling to move higher.
Significant volume this week, but failed to move it very high, indicates a lot of sellers waiting up there.
Downward bias.

Big move on the STI coming?

I got 38 results from the NR scans today, yesterday there were about 26
This is coming after STI has made some retracement to the 2550 levels.
Perhaps ready to bounce up again?
A lot of counters have triggered the 3-5 bar setup today too.
(This is one of the setups taught at AAT)
Plays for 12th Aug

Too many counters with the NR to put up all the results.
So I’m cross-referencing them with the more volatile counters with likely higher profits.
Top 5 in terms of profit potential are Venture Corp, DBS, Ezra, Swiber and Yanlord.
However, Ezra and Swiber both broke the previous bar’s high, however it retreated back down and closed under the high.
So I’m gonna filter them out of the list.
That leaves us with Venture Corp, DBS and Yanlord

Venture
Long bias, 3-5 bar drop setup triggered on tuesday, watch out for continuation to the upside if high of yesterday’s bar is broken or using ORB or stretch.

DBS
Long bias, would trigger long if high of yesterday is broken or using the ORB or stretch to trigger.

Yanlord
Can you see the fake break above the last high here last week? It was confirmed the next day by a bearish engulfing candle.
Appears to be bouncing off the 50sma
long play on high of last bar broken or stretch or ORB.

Plays for 5th Aug

STI took a big fall from the highs yesterday, might be time to get in for the short swings.
Here are a couple of the NR picks which I think show the most potential.
don’t have any plays to the upside really…

Venture Corp
Great volatility these past few days, I believe it’ll continue to the downside should STI finally decide to fall..
so downside bias for this one, 8.97 is the level to watch.

Hyflux
Quite like this company fundamentally.
Anyway, 2.54 is the level to watch to the downside, 2.66 to the upside
I have a downside bias for this one.

Plays for 4th August

Not all are NR picks. 26 results from the scans today..so only looked at the more volatile ones, and those which appear to be near more significant levels.

KS energy (edited, called it Noble by mistake)
Looks interesting, NR formed inside long tailed doji. volume falling off. resistance 1.38 level had a false break before, now the doji is formed just under it and against the upper bollinger band.

sc global
looks pretty interesting, flagging pattern, price looking at some resistance at 1.55, but should be good if that goes

hyflux
well, if you add the last 2 candles together, you’d get a long tailed doji, formed on good volume too.
if 2.54 goes, might have a retracement down to 2.35 – 2.40 levels.
risk/reward looks favourable for this counter to the short side.

swiber
$1.00 play, might be good for even a few bids if 1.02 goes.
note immediate resistance at 1.08

Plays for 3rd August

Lotsa results on the NR scan, I see that most of the charts are basically doing flags or consolidations.
Flags are continuation patterns, so it seems like there will be another test of the highs for these counters.
SGX seems to have broken above the last candle, this triggers a long swing, tho i wouldn’t swing it long when the STI is so close to resistance.

Parkway Holdings has been testing the 2.12 level for the past 3 sessions. this play is interesting, break of 2.12 could signal further upside.
Volume dipped on the last trading session which formed the NR..something’s up, nobody wants to play cos they’re waiting for some direction from price.
Break of 2.12 might result in a lot of sideliners jumping in, that could send price a lot higher, but long swing trades don’t appeal to me until we have a clearer market outlook from the STI. Break of 2.12 might be a fake break, but i think it’ll be worth playing at least on intraday volatility.

Hiap Hoe
Price has over extended it seems, a break below the last low could be a good sign that price is weakening.
For this counter, it’s quite clear that spikes in volume preceed retracements.
Right now we’re seeing a very strong amount of volume, so perhaps a strong retracement could follow.

Allgreen
Looks really interesting as well, long tailed doji can be seen testing the high made 3 candles before it.
A break above 1.27 could yield a profitable long side play.
A break below 1.18 could lead to a profitable short side play.
Check your risk/rewards before taking any trades.

Sembcorp Marine
Similar movement to SGX, however it closed on last week’s high.
The last high was made in june at 3.16
So it’s facing resistance now, should be good if it break that.

But again, I’m a little apprehensive about long side swing trades at the moment.

29th July plays

Market’s still running
STI broke 2600 resistance, see if today can hold above, if it does, we’re probably still gonna have a couple more nice big upside days.
Cos the whole market is running, there aren’t a lot of results on the NR scans..
For today only Wing Tai looks interesting..
After an INSANE run up, it’s done some retracement while the rest of the market’s been running, probably released some selling pressure.
If market sentiments are good, it might find the strength to go higher.
The rest of the results were not volatile counters so i shall not look at them.

For some volatility play,
Top 2 on the list are NOL and Yanlord.

Other than that, seems like a couple of china counters went crazy, watch out for the retracements, could be violent.
I hear china xlx is gonna get listed on the SSE or HSI and i’m not sure what the story is with china milk, but it’s running too.

Something to watch for tomorrow

Well now, STI is still on the run upwards! 2600 resistance, might reach this week then fall back.
There’s a slight divergence of events, the STI is making new highs, but some counters are failing to break the highs seen at the start of June.
But we’ve seen quite a few days of strong upward moves, I’m still inclined to think there will be a retracement very soon. I’m seeing many long tailed dojis around.
but in the mean time, that shouldn’t stop us from looking out for trades to the upside. Although i’ll be keeping my exposure time to a minimum to avoid any drastic drops.
Btw, DBS was an NR7 yesterday, but the parameters of my scan capped counter prices to $5 so I didn’t see it. did a nice 30c run.
Allgreen didn’t trigger today and I wasn’t comfortable going long on Noble, seemed like a lot of big throw downs, so no trades taken today.
Anyway I spent half the day out and about.. down with flu and still running around.. super tired. (no worries, it’s not H1N1 =p)

NR scans only came up with Osim which looked interesting with the potential for a short term swing if it continues on its way up.
Simple swing trade trade plan would be trigger on break of today’s high, 0.475 with a stop around 0.43.
First target would be 0.52 then 0.565
timeframe by end of this week.
Intraday play would be either the ORB or stretch 2 bids above open, with a stop of 4 bids, targeting 6 bids.
To be conservative, my entry would be taken after first 30mins of trading.
Personally, my trading plan would be to do an intraday trade on this, I’ll take half profit at 6 bids and move my stop to breakeven.
At the end of the day if volume is high, then I’ll swing it for a day or 2 for more profits, targetting 0.52 and 0.565 or until friday.
For the record, I do NOT encourage people to follow my trade plan, especially for intraday.

Noble 27th July

Explainations are on the chart. I’d like to see a retest of the 1.85 level before going in long.
My preferred play would be to fade the break based on ORB (opening range breakout) with stretch. Of course if 1.93 is broken, there’s a chance for intraday plays to the upside as well. 
I use ORB exclusively for intraday trading or as a trigger for short term NR plays.
 I will put up a page on ORB and stretch into the strategies section, give me some time, as you can see even the basic TA section isn’t finished yet! lol